William Blair Raises Earnings Estimates for CoStar Group

CoStar Group, Inc. (NASDAQ:CSGP) – Equities research analysts at William Blair raised their FY2024 earnings per share estimates for shares of CoStar Group in a research note issued on Wednesday, October 23rd. William Blair analyst S. Sheldon now forecasts that the technology company will post earnings per share of $0.52 for the year, up from their prior forecast of $0.48. The consensus estimate for CoStar Group’s current full-year earnings is $0.49 per share. William Blair also issued estimates for CoStar Group’s Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.22 EPS and Q3 2025 earnings at $0.26 EPS.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share.

A number of other research firms have also recently commented on CSGP. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Robert W. Baird lowered their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $74.48 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a market capitalization of $30.52 billion, a PE ratio of 169.28 and a beta of 0.81. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a fifty day moving average of $76.46 and a two-hundred day moving average of $79.02.

Institutional Trading of CoStar Group

Hedge funds have recently made changes to their positions in the company. Vulcan Value Partners LLC grew its holdings in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after purchasing an additional 1,961,917 shares during the period. Janus Henderson Group PLC increased its position in shares of CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the last quarter. Select Equity Group L.P. purchased a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $60,761,000. Renaissance Technologies LLC acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $46,692,000. Finally, Vanguard Group Inc. boosted its position in shares of CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.